A2a, in 2013 the gross operating margin rises and debt is reduced to 3,9 billion euros

The gross operating margin rises and the net financial indebtedness falls. A2A closed 2013 with preliminary results which showed an increase in the gross operating margin of 6% to 1,1 billion and a reduction of half a billion in net financial debt to 3,9 billion from 4,4 thanks to the positive cash generation attributable operational management and extraordinary operations finalized in 2013 (sale of five small run-of-river hydroelectric plants and non-proportional demerger of Edipower). Transactions that made it possible to offset investments of 290 million euros and dividends of 81 million. However, revenues fell by 13% to 5,6 billion. A decrease which, explains A2A, is essentially due to the "decision to contract the gas brokerage business on the wholesale markets". The positive results of cogeneration and district heating, networks and the environmental business had a positive impact on the gross operating margin, while the result of the energy sector remained stable despite the "excellent performance" of the Montenegrin subsidiary Epcg. The ratio of debt to EBITDA thus decreased to 3,4 from 4,1.